BidaskClub Downgrades Steven Madden (NASDAQ:SHOO) to Sell

Steven Madden (NASDAQ:SHOO) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, BidAskClub reports.

Several other research analysts have also issued reports on the stock. Canaccord Genuity set a $107.00 target price on shares of Columbia Sportswear and gave the company a “hold” rating in a research note on Friday, April 26th. Piper Jaffray Companies set a $9.00 target price on shares of FTS International and gave the company a “buy” rating in a research note on Tuesday, May 14th. Zacks Investment Research lowered shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. B. Riley reissued a “buy” rating on shares of Skechers USA in a research note on Friday, April 26th. Finally, ValuEngine raised shares of Vermillion from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Steven Madden presently has a consensus rating of “Hold” and an average target price of $35.23.

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Shares of NASDAQ SHOO opened at $32.90 on Friday. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 1.94 and a beta of 0.82. Steven Madden has a 1 year low of $27.88 and a 1 year high of $39.30. The company has a 50-day simple moving average of $32.19.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Thursday, April 25th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.05. The company had revenue of $410.90 million for the quarter, compared to analyst estimates of $404.31 million. Steven Madden had a net margin of 8.06% and a return on equity of 19.36%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 EPS. Analysts predict that Steven Madden will post 1.84 earnings per share for the current fiscal year.

In related news, EVP Michael Paradise sold 2,000 shares of Steven Madden stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $35.99, for a total transaction of $71,980.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Garrett Smith sold 9,267 shares of Steven Madden stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $31.00, for a total transaction of $287,277.00. The disclosure for this sale can be found here. Insiders have sold a total of 17,417 shares of company stock worth $567,204 in the last three months. 1.96% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC raised its holdings in Steven Madden by 1,100.0% during the 1st quarter. Quadrant Capital Group LLC now owns 804 shares of the textile maker’s stock worth $26,000 after buying an additional 737 shares during the period. Bessemer Group Inc. acquired a new stake in Steven Madden during the 4th quarter worth approximately $42,000. Valeo Financial Advisors LLC acquired a new stake in Steven Madden during the 1st quarter worth approximately $60,000. Manchester Capital Management LLC acquired a new stake in Steven Madden during the 1st quarter worth approximately $69,000. Finally, Miles Capital Inc. acquired a new stake in Steven Madden during the 1st quarter worth approximately $211,000. Hedge funds and other institutional investors own 96.06% of the company’s stock.